The Directors are pleased to present the 21st Annual Report together
with the Audited Accounts of your Company for the financial year ended
31st March 2015.

FINANCIAL RESULTS

(Rs in Lacs)

Sr. PARTICULARS YEAR ENDED
No
31.03.2015 31.03.2014

1. Sales 8.03 7.20

2. Profit before Interest & Depreciation (25.96) (3.79)

3. Interest 0 0

4. Depreciation 10.74 19.10

5. Profit Before Tax & Extra-ordinary
items (36.69) 22.89

6. Tax Provision (Net of Deferred Tax) 0 0

7. Profit After Tax (36.69) 22.89

8. Extra-Ordinary Items 0 0

9. Profit available for Appropriation (36.69) 22.89

10 Balance carried to Balance Sheet (36.69) 22.89

OVERALL PERFORMANCE AND OUTLOOK

The turnover of the Company during the financial year was Rs 8.03 Lacs
as against last year''s 7.20 Lacs. The marginal increase is attributable
to increased yield from mango sales. The operations of the company have
been minimal during the year. However, your company is also
contemplating putting the land to alternate use to enhance business.

MANAGEMENT DISCUSSION & ANALYSIS

A detailed report on the management discussion and analysis is provided
as a separate section in this Annual Report.

CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of Corporate
Governance and adhere to the Corporate Governance requirements set out
by SEBI. The Company has also implemented several best corporate
governance practices as prevalent globally.

The Report on Corporate Governance as stipulated under Clause 49 of
Listing Agreement forms part of the Annual Report. The Requisite
Certificate from the Auditors of the Company, Gautam N Associates,
Chartered Accountants, Aurangabad confirming compliance with the
conditions of Corporate Governance as stipulated under the aforesaid
Clause 49 is attached to this report.

DIVIDEND

Given the growth requirements of the business and the inadequacy of
profits in the Company, the Directors have not recommended any dividend
for the financial year 2014-15.

DEPOSITS

Your company has not accepted any fixed deposits during the year under
review.

RISK MANAGEMENT

During the year, your Directors have constituted a Risk Management
Committee which has been entrusted with the responsibility to assist
the Board in (a) Overseeing and approving the Company''s enterprise wide
risk management framework; and (b) Overseeing that all the risks that
the organization faces such as strategic, financial, credit, market,
liquidity, security, property, IT, legal, regulatory, reputational and
other risks have been identified and assessed and there is an adequate
risk management infrastructure in place capable of addressing those
risks.

DIRECTORS & KEY MANAGERIAL PERSON

Mr. Satish Kagliwal, Director retires by rotation and being eligible
offers himself for re- appointment. Pursuant to Clause 49 of the
Listing Agreement, Details of Directors retiring by rotation is
provided as part of the Notice of the ensuing Annual General Meeting.

The Company has received declarations from all the Independent
Directors of the Company confirming that they meet the criteria of
independence as prescribed both under the Act and Clause 49 of the
Listing Agreement with the Stock Exchanges. The Company has devised a
Policy for performance evaluation of Independent Directors, Board,
Committees and other individual Directors which includes criteria for
performance evaluation of the non-executive directors and executive
directors.

AUDITORS

At the Annual General Meeting held on July 5th 2014, M/s Gautam N
Associates, Chartered Accountants, Aurangabad were appointed as the
Statutory Auditors of the Company to hold office till the conclusion of
the Annual General Meeting to be held in the calendar year 2018. In
terms of the first proviso to Section 139 of the Companies Act 2013,
the appointment of the Auditors shall be placed for ratification at
every Annual general Meeting. Accordingly, The appointment of M/s
Gautam N Associates, Chartered Accountants, as statutory auditors of
the Company, is placed for ratification by the shareholders. In this
regard, The Company has received a certificate from the Auditors to the
effect that if they are re-appointed, it would be in accordance with
the provisions of section 141 of the Companies Act 2013.

AUDITORS'' REPORT

The Notes on financial statement referred to in the Auditors'' Report
are self-explanatory and do not call for any further comments. The
Auditors'' Report does not contain any qualification, reservation or
adverse remark.

SECRETARIAL AUDITOR

M/s Neha P Agrawal, Practising Company Secretary has been appointed as
the secretarial Auditor of the Company for the financial year 2015-16
as required under Section 204 of the Companies Act 2013 and Rules
thereunder. The Secretarial Audit Report for the financial year ended
March 31, 2015 is annexed herewith marked as Annexure III to this
Report. The Secretarial Audit Report does not contain any
qualification, reservation or adverse remark.

A detailed note on the Board and its committees is provided under the
Corporate Governance Report section in this Annual Report. The
Composition of the Committees and compliances, as per the applicable
provisions of the Act and Rules are as follows:

Name of the Composition of the Highlights of Duties,
Committee Committee responsibilities and
activities

Audit Committee K. G Iyer-Chairman * All recommendations made
Shrirang Agrawal, by the Audit Committee
Akash Kagliwal during the year were
accepted by the Board.

* In accordance with the
requirements of the
Listing Agreement, The
Company has formulated
policies on related party
transactions.

* The Committee noted that
all the grievances of the
investors have been
resolved during the year.

Nomination and Shrirang Agrawal- * To formulate the criteria
Remuneration Chairperson for determining
Committee K. G. Iyer, qualifications, positive
Akash Kagiwal attributes and
independence of a
Director, and recommend
to the Board a policy,
relating to the
remuneration for the
Directors, key
managerial personnel
and other employees.

Particulars of loans given, investments made, guarantees given and
securities provided along with the purpose for which the loan or
guarantee or security is proposed to be utilized by the recipient are
provided in the standalone financial statement (Please refer to Note 9
and 12 to the standalone financial statement).

DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 134 (3)(c) of the Companies Act,
2013, the Board of Directors hereby confirms that,

i. In the preparation of the annual accounts, the applicable accounting
standards have been followed and that there are no material departures.

ii. It has in the selection of the accounting policies, consulted the
Statutory Auditors and has applied them consistently and made judgments
and estimates that are reasonable and prudent, so as to give a true and
fair view of the state of affairs of the company as at 31st March, 2015
and of the profits of the company for that period.

iii. It has taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of this
Act for safeguarding the assets of the company and for preventing and
detecting fraud and other irregularities, to the best of its knowledge
and ability. There are however, inherent limitations, which should be
recognized while relying on any system of internal control and records.

iv. It has prepared the annual accounts on a going concern basis.

v. The Directors, had laid down internal financial controls to be
followed by the company and that such internal financial controls are
adequate and were operation efficiently.

vi. The Directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were
adequate and operating effectively.

The particulars relating to conservation of energy, technology
absorption, foreign exchange earnings and outgo, as required to be
disclosed under the Act, are provided in Annexure IV to this Report.

EXTRACT OF ANNUAL RETURN

Extract of Annual Return of the Company is annexed herewith as Annexure
VII to this Report.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

In terms of the provisions of Section 197(12) of the Act read with
Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, a statement showing the names and
other particulars of the employees drawing remuneration in excess of
the limits set out in the said rules are provided in the Annual Report.

Disclosures pertaining to remuneration and other details as required
under Section 197(12) of the Act read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 are
provided in the Annual Report.

Having regard to the provisions of the first proviso to Section 136(1)
of the Act and as advised, the Annual Report excluding the aforesaid
information is being sent to the members of the Company. The said
information is available for inspection at the registered office of the
Company during working hours and any member interested in obtaining
such information may write to

INSURANCE

All the insurable interest of the company, including Inventories,
Buildings, Machinery etc, is adequately insured.

ACKNOWLEDGEMENT

Your Directors record their gratitude to the Financial Institutions,
Banks and other Government departments for their continued assistance
and co-operation extended to your Company during the year under report.

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